You can’t take it with you, but it’s getting easier to leave it to your heirs. So says Laura Saunders, writing for the Wall Street Journal. The Journal reports that the Internal Revenue Service recently released final rules detailing a generous estate- and gift-tax break for married couples.
The break, known as “portability,” allows spouses to pass nearly $11 million of assets to heirs free of estate tax. Without it, many couples would qualify only for one estate-tax exemption instead of two. Steve and Sinclair review. In the Q & A segment, The A Team welcomes Christopher McNichol of Gust Rosenfeld, a prominent Phoenix area law firm. Chris is one of the Southwest Super Lawyers® for Real Estate Law. He is AV® Preeminent™ rated by Martindale-Hubbell®, representing the highest rating in legal ability and ethical standards, and was named by Arizona Business Magazine in Ranking Arizona Best of the Best Award Winner. Today, we quiz Chris on mechanics liens and how they could affect your real property.